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Turkey Feb. Current Account Deficit Drops More Than Expected

4/11/2012 3:35 AM ET

Turkey's current account deficit decreased more than economists expected in February, data released by the central bank showed Wednesday.

The current account deficit decreased to $4.217 billion in February from $5.926 billion in January. Economists were looking for a deficit of $4.7 billion.

The balance in the foreign trade account was a deficit of $4.066 billion in March, down from the $5.424 billion deficit seen in the previous month. At the same time, total deficit in the trade and income account dropped to $4.477 billion from $5.999 billion in the previous month.

Turkey's current transfers account showed a surplus of $260 million in March, compared to the $73 million surplus seen in the previous month.

In the two months ended February, the current account posted a deficit of 10.143 billion, lower than the $12.058 billion deficit seen in the same period last year.

by RTT Staff Writer

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